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Weekly inflation witnesses nominal increase

Weekly inflation witnesses nominal increase

ISLAMABAD: The weekly inflation for the week ended on August 24 for the combined income groups witnessed nominal increase of 0.05 percent as compared to the previous week. According to the data released by Pakistan Bureau of Statistics (PBS) on Friday, the Sensitive Price Indicator (SPI) for the week under review in the above mentioned group was recorded at 219.53 points against 219.42 points last week.

As compared to the corresponding week of last year, the SPI for the combined group in the week under review witnessed increase of 0.61 per cent. The weekly SPI has been computed with base 2007, 2008=100, covering 17 urban centers and 53 essential items for all income groups.

Meanwhile, the SPI for the lowest income group up to Rs 8,000 increased by 0.16 percent as it went up from 209.48 points in the previous week to 209.82 points in the week under review. As compared to the last week, the SPI for the income groups from Rs 8001 to 12,000, Rs 12,001 to 18,000, Rs 18,001 to 35,000 and above Rs 35,000, also increased by  0.10 percent, 0.07 percent, 0.04 percent and 0.01 percent respectively.

During the week under review, average prices of 12 items registered decrease, while 15 items increased with the remaining 26 items’ prices unchanged. The items, which registered decrease in their prices during the week under review included chicken(farm), sugar, tea(packet), bananas, garlic, masoor pulse, gram pulse, mustard oil, LPG Cylinder, red chilly, wheat flour and mash pulse. The items, which registered increase in their prices during the week under review included tomatoes, onions, potatoes, rice (irri-6), eggs, cooked daal, tea (prepared), mutton, gur, rice (basmati broken), moong pulse, vegetable ghee (loose), cooking oil (tin) cooked beef and beef.

The items with no change in their average prices during the week under review included wheat, bread (plain), milk(fresh), curd, milk(powdered), vegetable ghee(tin), salt(powder), cigarettes, long cloth, shirting, lawn, georgette, gents sandal, gents chappal, ladies sandal, electricity charges, gas charges, kerosene oil, firewood, electric bulb, washing soap, match box, petrol, diesel, telephone local call and bath soap.